Eaton Corporation plc [ETN] insider makes an insider purchase of 1,500 shares worth 0.23 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eaton Corporation plc shares valued at $227,553 were sold by Hopgood Daniel Roy on Aug 15. At $151.70 per share, Hopgood Daniel Roy sold 1,500 shares. The insider’s holdings dropped to 7,593 shares worth approximately $1.05 million following the completion of this transaction.


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Also, MCCOY DEBORAH L sold 3,000 shares, netting a total of over 446,168 in proceeds. Following the sale of shares at $148.72 each, the insider now holds 12,856 shares.

Before that, Miller Boise April had sold 12,283 shares from its account. In a trade valued at $1,703,108, the insider traded Eaton Corporation plc shares for $138.66 each. Upon closing the transaction, the insider’s holdings decreased to 12,283 shares, worth approximately $1.58 million.

As published in a research note from Barclays on May 24, 2022, Eaton Corporation plc [ETN] has been rated down from an Equal weight to an Underweight and the price target has been revised to $120. This represents a -14.86% premium over Wednesday’s closing price. Analysts at Wolfe Research resumed the stock at ‘”an Outperform”‘ outlook in a report released in early February. As of February 07, 2022, Mizuho has reiterated its “Buy” rating for ETN. Earlier on February 07, 2022, Deutsche Bank resumed its rating. Their recommendation was “a Buy” for ETN stock.

Analyzing ETN’s Price Performance

On Wednesday, Eaton Corporation plc [NYSE: ETN] plunged -0.97% to $137.83. The stock’s lowest price that day was $137.79, but it reached a high of $142.01 in the same session. During the last five days, there has been a drop of approximately -3.68%. Over the course of the year, Eaton Corporation plc shares have dropped approximately -20.25%. Shares of the company reached a 52-week high of $173.39 on 01/03/22 and a 52-week low of $122.50 on 07/14/22. A 50-day SMA is recorded $142.51, while a 200-day SMA reached $148.05. Nevertheless, trading volume fell to 1.1 million shares from 1.62 million shares the previous day.

Support And Resistance Levels for Eaton Corporation plc (ETN)

According to the 24-hour chart, there is a support level at 136.41, which, if violated, would cause prices to drop to 134.99. In the upper region, resistance lies at 140.63. The next price resistance is at 143.43. RSI (Relative Strength Index) is 41.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.96, which suggests the price will decrease in the coming days. Percent R is at 80.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Eaton Corporation plc subject to short interest?

Stocks of Eaton Corporation plc saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.7 million shares to 4.09 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.79 million shares. A decline of -17.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.33 of the overall float, the days-to-cover ratio (short ratio) decline to 2.33.

Which companies own the most shares of Eaton Corporation plc (ETN)?

According to The Vanguard Group, Inc. filings, the company currently owns 33,553,884 shares, which is about 8.42% of the total ETN shares outstanding. The investor’s shares have appreciated by 586,773 from its previous 13-F filing of 32967111.0 shares. With the completion of the sale transaction, JPMorgan Investment Management, I’s stake is now worth $2,481,733,018. BlackRock Fund Advisors acquire a 2.09% interest valued at $2.45 billion while SSgA Funds Management, Inc. sold a -495,328 stake. A total of -402,049 shares of Eaton Corporation plc were sold by Massachusetts Financial Services during the quarter, and -181,843 were sold by Wellington Management Co. LLP. In its current portfolio, Managed Account Advisors LLC holds 7,854,652 shares valued at $1.07 billion.

In terms of Eaton Corporation plc share price expectations, FactSet research, analysts set an average price target of $166.21 in the next 12 months, up nearly 22.14% from the previous closing price of $139.18. Analysts anticipate Eaton Corporation plc stock to reach $205.00 by 2022, with the lowest price target being $124.00. In spite of this, 22 analysts ranked Eaton Corporation plc stock as an Overweight at the end of 2022. On February 07, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and reiterated coverage with a $186.

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